MUTUAL FUNDS

New Delhi: Investors will not able to buy and redeem mutual fund units on February 28 even as stock markets remain open on Saturday when Finance Minister Arun Jaitley will present the much-awaited Union Budget.
"It will be a non-business day for mutual funds on the Budget day. An investor cannot...

Mumbai: As DLF is unable to redeem mutual funds worth Rs 2,500 crore in view of Sebi's ban on the largest builder in a case pertaining to its IPO in 2007, MFs have said that the capital market regulator should not enforce all its rules on them.
"As a sectoral regulator,...

New Delhi: The government on Friday announced some concessions for mutual fund industry and income tax payers, while committing to low tax regime to promote industrial activity to generate jobs and create more resources to undertake social welfare activities.
Announcing the concessions in the Lok Sabha, Finance Minister Arun Jaitley said...

Mumbai: The mutual fund industry on Thursday welcomed the Budget proposal to increase the tax exemption limit under section 80C of the Income Tax Act to Rs 1.5 lakh, but said other measures were a mixed bag.
"The additional exemption under 80C will provide a limited window for tax exemption eligible...

New Delhi: In a move that may come as a blow to the mutual fund industry, the government on Thursday proposed to raise longterm capital gains tax on debtoriented mutual funds to 20 per cent from 10 per cent, to bring parity with banks and other debt instruments.
However in the...

New Delhi: Investors pumped in nearly Rs 54,000 crore in various mutual fund schemes in 201314, 23 per cent lower than the amount infused by them in the preceding fiscal, the Economic Survey on Wednesday said.
"During 201314, mutual funds mobilised Rs 53,782 crore from the markets as compared to Rs...

The implication of taxation in a mutual fund is very critical and is often misunderstood. In this article I will try to decode the taxation aspect on mutual funds for the investors.
Short term capital gains tax
Debt funds Any profit or loss made in a debt fund where the period of...

Lot of people believe that investing in a fixed deposit does not carry any risk. If fixed deposit is offering you 8 per cent p.a. rate of return and inflation is 9 per cent p.a., you destroy your wealth by 1 per cent. In a fixed deposit, the capital is...

To exhort listed companies and their top executives to follow 'good business practices', regulator Sebi on Thursday cleared new corporate governance norms that require them to justify CEO salaries, put in place whistleblower policies and have orderly succession plans.
The new norms were cleared by the Sebi board on Thursday and...

Pune: The Reserve Bank on Tuesday ruled out a ban on the sale of gold by banks but asked lenders to refrain from aggressively selling the precious metal. RBI Governor D Subbarao told reporters here that the RBI did not intend to ban sale of gold coins by banks.
"We do...

Bhubaneswar: A scam as big as the chit fund fraud in West Bengal has been exposed, but this time it is in Odisha. A CNNIBN exclusive shows how fraudulent investment companies are duping investors in the state. Investors have been swindled off nearly Rs 20,000 crore by 40 finance companies...

Mumbai/New Delhi: ICICI Prudential Mutual Fund has entered into a strategic partnership with Syndicate Bank, one of India's most trusted and progressive PSU Banks for distribution of its mutual fund schemes to further strengthen its distribution reach. Syndicate Bank will now be distributing ICICI Prudential Mutual Fund products to its...

He has worked in the Indian mutual fund industry for more than 15 years. He picks tomorrows bluechip stocks from todays numerous midcap companies.
Investment philosophy: He hitched his fund wagon to the theme of consumption and food inflation more than two years ago and his top picks too have...

After a lacklustre performance in the last three years in the equity category, HSBC Mutual Fund is gearing up for some serious changes. Tushar Pradhan, the chief investment officer (CIO) of HSBC Mutual Fund, has been given the responsibility to manage the HSBC Equity Fund along with three other equity...

Mumbai: Corporate giant Reliance Industries' Chief Mukesh Ambani on Friday announced that the company would become debtfree in the current financial year.
Announcing a bullish stance on the company's financial position, the Chairman and MD said that RIL would become debtfree on a net basis in the current 201112 fiscal.
RIL...

The floodgates might just have opened for the Indian mutual fund industry. Indian markets have always been considered to be very attractive for investors in developed markets, but mutual funds in India were never allowed to tap retail investors from abroad.
Hence, mutual funds used the Mauritius route to attract...

Mumbai: Anil Ambani group firm Reliance Mutual Fund today launched a new Gold Savings Fund, a firstofitskind investment scheme focused on gold, to tap a market that it expects to become bigger than even equity mutual funds.
The new fund, which is different from gold ETFs (Exchange Traded Funds) that require...

Mutual fund managers will scratch their heads when they look at the graphic on this page. The retail investor confused them in 2010.
Fund managers used to view retail investors as simplistic individuals who would follow the herd. When the market would rise, the net inflow of funds would rise. When...

Mutual funds are a safe investment; they are easier to buy, and laws regulating them are strict. But what funds to pick? All About the Money speaks to Kartik Varma, cofounder of iGate, and other experts for guidance.
...

A day after market regulator SEBI banned the sale of unit linked insurance plans by 14 major life insurance companies; insurance regulator IRDA has told the insurance companies to ignore the SEBI ban. They have told them to carry on with business as usual. It said the SEBI order is...

Designing the rightsize portfolio
The famous maxim referred to as the Occams Razor goes like this entities must not be multiplied beyond necessity. Keeping with this maxim, a portfolio that is of a correct size should satisfy two clauses: a necessity clause and a sufficiency clause. These refer to how many...

From August 2009, the Indian mutual fund industry will change its distribution model under an order from the Securities and Exchange Board of India. The regulator has done away with entry load for schemes. This will cause a lot of turmoil for all three parties involved: Mutual fund companies, investors...

New Delhi: The Indian mutual fund industry is set to change forever. Tilting towards a more investorfriendly mode with market regulator SEBI set to bring one of the biggest reforms the industry has ever seen the power to investors to decide the commission they pay and scrapping entry loads.
It's...

Mutual fund managers have come in for criticism of late. Various fund managers have been accused of sitting on high cash holdings when the markets went up.
CEO of Value Research, Dhirendra Kumar said many investors would be disappointed with the performance of the mutual funds.
A lot of investors came...

Mumbai: Markets opened for the first time after the General Elections 2009 results that were declared on Saturday, May 16. The markets got their chance to react to the results on a Monday, unlike five years ago. This time it was not a Black Monday, but a Golden Monday instead....

Recently, someone mailed in asking, "I have SIPs (systematic investment plans) in equity mutual funds. Should I continue in them?"
After confirming that the time horizon was indeed long term, we thought the obvious answer would be a YES. But when we looked at the details of the mail, we found...

The Wealth team asks working professionals what they do with their salary how they save it, how they invest it. As part of this series, Wealth spoke to an investor who invests in everything but mutual funds.
NAME: Adarsh Shetty
Age: 30
What I do: Web designer
Where I stay: Mumbai
Adarsh Shetty is...

Buying gold on the day of Akshaya Tritiya is considered auspicious. So, this year bring home gold either in the form of gold ETF.
Traditionally, your only option when it comes to buying gold was in the physical form. But with the launch of Gold Mutual Funds (Gold Exchange Traded Funds...

WE talk money with working professionals. As part of this series, we spoke to a marine engineer who was lured into opening a bank account with false promises.
Name: Krishnan Subramaniam
Age: 35
Where I stay: Mumbai
What I do: Marine Engineer
Never trust an extra attractive financial scheme. Ask Krishnan Subramaniam. He would know....